Tag: retirement income
Introduction Do today’s retirees have sufficient income to meet their needs? One common way to address this question is to determine a household’s “replacement rate.” The replacement rate gauges the extent to which retirement income allows workers to maintain their pre-retirement standard of living. In the U.S. retirement income system, Social Security is the sing…
Introduction For anyone interested in retirement income policy, the most basic question is how much are people receiving today from Social Security, the backbone of the nation’s retirement income system. The traditional measure of generosity is the replacement rate — namely, the ratio of benefits relative to pre-retirement earnings. The Social Security administration provides two…
